your guide to buying property in 2025

Buying property in 2025 comes with some unique considerations, given the evolving real estate market and recent changes in regulations. Here’s a simple breakdown of the process to help you navigate the property journey confidently.

1. Determine Your Budget and Get Pre-Approval for a Loan

Assess your finances: Begin by reviewing your financial situation. Consider your income, savings, and any other debts. It’s important to calculate how much you can comfortably borrow and repay.
Get pre-approval: In 2025, getting pre-approved for a home loan is more essential than ever. Pre-approval helps you understand your borrowing capacity and puts you in a stronger position when making an offer. A mortgage broker can assist in getting you pre-approved for a loan.

2. Research and Choose Your Property

Search for properties: Use platforms like realestate.com.au and domain.com.au to explore properties that fit your needs and budget. With the ongoing demand for housing, research is key.
Attend inspections: Make sure to attend open homes and auctions to assess properties firsthand.
Consider location: In 2025, proximity to public transport, schools, and amenities continues to be a crucial factor for both homebuyers and investors.

3. Hire a Conveyancer or Solicitor

A conveyancer or solicitor plays a vital role in the property buying process. They will review the Contract of Sale, guide you through the settlement process, and ensure that all legal aspects are handled correctly.

4. Make an Offer or Attend an Auction

Private sale (Offer): If the property is being sold privately, you can make an offer directly to the seller, often with the assistance of your agent.
Auction: In NSW, auctions remain a popular way to buy property. Be prepared to place a bid if you’re interested in a property being sold at auction.

5. Sign the Contract of Sale

Once your offer is accepted, the seller will provide a Contract of Sale. Your conveyancer or solicitor will review this document to ensure everything is in order before you sign.

Cooling-off period: In most cases, you’ll have a 5-day cooling-off period after signing, allowing you to withdraw from the deal, though penalties may apply.

6. Organise Your Financing

Finalize your home loan: After the contract is signed, confirm the loan with your lender, submitting any required documents for final approval.
Deposit: Typically, you’ll need to pay a deposit (usually 10% of the purchase price) when you sign the contract.

7. Complete a Property Inspection (Optional but Recommended)

Even in 2025, property inspections remain a wise move. You should consider getting a building and pest inspection, especially for older properties, to avoid costly surprises down the track.

8. Exchange Contracts

Exchange contracts: Once everything is in place, the buyer and seller exchange signed copies of the Contract of Sale. This is when the sale becomes legally binding.
Pay your deposit: You will need to pay the deposit (usually 10%) upon exchange. If you decide to back out after this, you could lose your deposit.

9. Prepare for Settlement

Settlement day: This is the day the property officially changes ownership. Your solicitor or conveyancer will coordinate with the seller’s legal team to ensure all necessary documents are completed, and the remaining funds are transferred.
Pay the balance: You’ll need to pay the remaining amount of the purchase price, and the property will be officially yours.

10. Take Possession of Your Property

Once settlement is complete, you’ll receive the keys to your new home. It’s time to move in and start enjoying your new space.

Update your details: Don’t forget to update your address with relevant authorities and service providers, including utilities and the post office.

11. Post-Settlement Responsibilities

Stamp duty: As of 2025, you’ll still need to pay stamp duty on your property purchase. The amount will depend on the purchase price and any applicable concessions, such as those for first-home buyers.
Home insurance: It’s advisable to secure home insurance to protect your new investment, especially if you have a mortgage.

12. Enjoy Your New Home

Congratulations! After following the process, you’ve successfully purchased property in NSW. It’s now time to settle in and enjoy your new home.

Why Professional Guidance Is Key

Buying property can be complex, and with the changing dynamics in the NSW property market in 2025, seeking professional advice from a mortgage broker, conveyancer, or solicitor can ensure the process runs smoothly. At Life Home Loans, we are here to assist with securing a home loan that suits your needs and help you prepare for every step of the property journey.

Disclaimer: This article provides general information only and does not necessarily reflect the views of the publisher or supplier. Always seek professional advice from your financial advisor, broker, or accountant before making any investment decisions. Information is current as of publication date and may change thereafter.